Property development expert — Jacob Frydman agrees with the latest CityRealty projection that New York City, and specifically Manhattan, property and condominium sales, may reach or exceed $10 billion in 2018. Recognized as a thought-leader in his field, he has been a guest lecturer on real estate finance at Columbia University and in the Master’s Lecturer series sponsored by New York Law School, and has been interviewed numerous times on Bloomberg TV, Fox Business News, CNBC and other television networks.
Launched in 1994, “the oldest continuously operating real estate website,” CityRealty.com has reported that 92 condo projects with roughly 8,000 new apartments are currently under construction or proposed. A graphic on CityRealty.com shows that condos at new developments will climb from $4.1 billion in sales in 2014 to $8.4 billion this year and $10.3 billion in 2018. The website credited higher price points as the main reason for the “upward trajectory” to what CityRealty called “a level not seen since last decade’s boom cycle.”
Few if any are better positioned than Jacob Frydman to analyze expectations in the real estate market. An expert in various segments of the industry -- including industrial properties, hotels, and retail space as well as residential units -- he addressed the value of condominiums during his guest appearance on Fox Business News on Nov. 4, 2014. “Things you live in might not be an investment,” Frydman said. “But if you’re thinking about it as an investment, condos fell less as a percentage than houses from the top of the market to the trough in 2009, and have recovered faster from the trough of the market in 2009 to today, by between 6 and 10 percent in major cities. ...it might surprise most Americans, but buying a condo actually was a better investment play than buying a house.”
Jacob Frydman has over 30 years of experience in structuring, financing and executing highly complex real estate transactions. Notable achievements of his career include Two Dag Hammarskjöld Plaza, an office condominium tower in midtown Manhattan used by foreign governments for their missions to the United Nations, and redeveloping the Aetna Building in lower Manhattan’s financial district. An avid philanthropist, he has been a firm supporter of Chabad of Dutchess County, the Brem Foundation to Defeat Breast Cancer, and other organizations. He generously dedicates much of his time and capital to programs aimed at helping people in struggling communities, and is proud to have recently joined the National Committee for Furtherance of Jewish Education (NCFJE) in support of its Released Time program of Greater New York.
Jacob Frydman - Blog - JacobFrydmanNews.com: http://JacobFrydmanNews.com
Jacob Frydman (@jacobfrydman) - Twitter: https://twitter.com/jacobfrydman
Jacob Frydman -- Huffington Post: http://www.huffingtonpost.com/author/jacob-frydman
Release ID: 399712